Just Group
FCA proposes Pension Wise nudge for DC savers
Contract-based pension providers could be required to nudge savers to book Pension Wise appointments before accessing their savings.
PP Monthly Digest: April 2021
Here it is, our monthly digest of the most important pension articles Professional Pensions has written and published over the last month, along with some contextual notes.
Five stories you may have missed this week
This week’s top stories included more details of PensionBee’s initial public offering and Just Group’s criticism of the effects of freezing the money purchase annual allowance.
MPAA freeze set to 'squeeze more basic rate tax payers'
The freeze in the money purchase annual allowance (MPAA) is set to “squeeze many more basic rate taxpayers”, according to Just Group.
Pension communications 'failing to engage' more women than men
A high proportion of savers are not taking an interest in their pension, which could have a “disproportionate impact” on women whose lower value pensions make them “more vulnerable to poor choices”, according to the Financial Conduct Authority (FCA)....
Five stories you may have missed this week
This week’s top stories include Axa’s deferred longevity swap with Hannover Re, and Capita’s restructuring plans for simplifying the business.
Just completes £1.5bn of bulk annuities and sets sights on bigger deals
Just Group completed 23 buy-in and buyout transactions at a total volume of £1.5bn over the course of 2020, according to its annual results.
Just's Hub Financial Solutions launches retirement advice service; Offering selected by Mercer for UK corporate clients
Hub Financial Solutions, the corporate solutions and advice business of Just Group, has formally launched an automated retirement advice service in a bid to offer a personalised offering to retirees.
Pensions minister writes to schemes for scam support; regulators and trade bodies push for legislative change
The increase in financial scams during the last 12 months has promoted calls from all corners of the pensions industry for better support for savers.
Those who could benefit most from Pension Wise guidance 'most likely to miss out'
Those who could benefit most from Pension Wise guidance are most likely to miss out on it, according to Just Group analysis of Financial Conduct Authority (FCA) research.
FOI request reveals regional Pension Wise disparity
Pension Wise is delivering double the number of appointments to pension savers in some regions of the UK than in others, a freedom of information request submitted to the Money and Pensions Service (Maps) reveals.
Five stories you may have missed this week
This week’s top stories included the launch of Scottish Widows’ ESG exclusions policy, while Deloitte acquired the admin and actuarial business of Kerr Henderson.
Baker Hughes agrees £100m buy-in with Just
The Baker Hughes (UK) Pension Plan has secured approximately £100m of liabilities through a buy-in with Just Group.
Simpler wake-up packs 'failing' to encourage savers to take up guidance
Simpler retirement ‘wake-up packs’ are not encouraging pension savers to take up free guidance, according to the Financial Conduct Authority (FCA).
Just completes £340m buy-in with Ibstock scheme
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Just becomes first UK insurer to issue a green bond
Just Group has launched its inaugural green bond, raising £250m and becoming the first UK insurer to launch such an asset.
DC pot first-time access hit high record in March
Savers accessing defined contribution (DC) pension pots for the first time rose to an all-time high just before the coronavirus pandemic, Just Group says.
Just Group completes £460m of de-risking deals in H1
Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.
Premaberg scheme agrees £5m buy-in deal with Just Group
The Premaberg Holdings Limited Retirement Benefits Plan has agreed a £5m buy-in transaction with Just Group.
Leonardo Electronics completes £160m buy-in with Just
The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.
Just completes £66m buy-ins with NG Bailey Scheme
The NG Bailey Scheme has agreed two pensioner buy-ins worth £66m with Just Group with support from K3 Advisory.
Just Group reports £1.2bn of bulk annuities last year
Another £1.2bn of defined benefit (DB) scheme liabilities were insured by Just Group last year, according to its preliminary full-year results.
Unsuitable DB transfers could result in £20bn in losses
The Financial Conduct Authority (FCA) revealed unsuitable transfers out of defined benefit (DB) schemes could result in collective losses of up to £20bn worth of guarantees over five years.
Just Group exploring DB de-risking partnership while bulk annuity deals fall
Just Group is exploring a defined benefit (DB) de-risking partnering approach as part of the development of a capital light fee business, according to its half-year results.
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